bignocks,
You are talking about two different things here, how much bleeding happens and how much blood leaks out of the animal for the bloodtrail. There are different factors at play for each, as has been mentioned above, but this might shed some light on what you need to think about. There will be trade offs to consider.
The amount of bleeding is dependent upon how much tissue and blood vessels are cut while the broadhead passes into and hopefully through the animal. A wider cutting radius will cut more tissue for the same depth of penetration, as you noted. However, it also provides more drag and increases the odds of running into something like bone and cartilage that will absorb energy and reduce momentum and therefore penetration. More blades will provide more cutting surface and can be a good thing as long as they are not so wide that they hit more bone. A 1:3 ratio of width to length seems to provide the best tradeoff of penetration and cutting surface. Heads like the Snuffer, Wensel Woodsman, and the Harold Hill style head all have this 1:3 ratio. You also want a cut on contact head and fixed blades loose less energy than mechanicals as they penetrate.
Now let's talk about blood trails. If your hit is high on the animal then the body cavity has to fill up with blood before it starts to really leak out of the entry hole. For this reason it is best to aim for a hit on the lower part of the animal so there isn't as much interior space to fill with blood. Also, an exit hole, as noted above, will give a better blood trail than just an entry hole; this brings us back to penetration. So, use a heavy arrow to maximize momentum, which is more important for penetration than KE is.
The other part of blood trailing is how easily the blood leaves the body. A head with three or more blades will not close up as easily as one with just two blades. There is a reason why triangular bayonets were outlawed by the Geneva Convention, the wound would not close on its own. Three blades seems to be the best tradeoff when it comes to number of blades.
Now you have the information, you just need to pick what will work best for you in your situation. If you want to know what I chose, it is a 125 gr Snuffer on a 450-500 grain aluminum arrow. Good mass and an effective head for anything in North America.
Larry